The transaction, which values Forty Seven at approximately $4.9 billion, is anticipated to close during the second quarter of 2020, subject to regulatory approvals and other customary closing conditions.

Through the addition of Forty Seven’s investigational lead product candidate, magrolimab, the acquisition will strengthen Gilead’s immuno-oncology research and development portfolio.

Forty Seven presented results of a Phase 1b study of magrolimab in patients with MDS and AML at the American Society of Hematology meeting in December 2019.

Beyond magrolimab, Forty Seven, which is led by Mark McCamish, MD, PhD, President and Chief Executive Officer, is preparing to advance two additional investigational compounds into clinical testing.

FSI-189, an anti-SIRPα antibody, is being developed for the treatment of cancer, as well as certain non-oncology settings, including transplantation conditioning. | To read full story, visit https://startuparound.com/read/1584804609.650797/Gilead-To-Buy-Forty-Seven,-for-$4.9-Billion?ref=audio_experience